They say that when there is blood in the streets you need to buy. Today there is not even blood left. Most of the most bullish blogs are quiet. When the best in the business like Holter, Rickards etc. are asked when the pain will end, they only shrug and appropriately reply they don't know. There's no talk on the MSM any longer recommending "buying" mining stawks.
Dave Kranzler: Although it seems like the precious metals sector has experienced another down year, the HUI index is still up 48.6% from its 12/31/15 close and it’s up 65% from its low on January 19th this year…
Its hard to find many vids to even download now with sentiment completely tanked. Many of the newbie longs jumped on in the latter stages of this bull run in the miners and are now underwater big time. Many of the newbies don't even know why they own gold. Its still a crowded trade and can get even worse. Technicals still aren't confirming a bottom is in for the miners. Paper gold is still being dumped. I don't know why anyone would want to trade in this sector? .............bottom line.......I like it. It smells really bad. You know what else smells bad. They're supposed to smell. That's when the boyz like to buy.
You loved First Magestic at 19 a couple of months ago but you won't touch it at 7. RIC was a superstar at 11 but no way at 5. No one is immune to the pain so don't feel bad. Only a masochist wants to get beaten down this badly. Its a sector that isn't for the gasbags that want to buy Apple for a "big score".......while Apple executes its share buyback scam on the public. Or maybe you wanna listen to the TESLA gasbags telling you what a great company it is while it bleeds out billions each year. And don't even get me started on JAMAZON. When they get through with those shares, the holders won't be able to find enough enemas to pull um out of their rectums. So maybe you can do like I do and just smile at how CONtrived this game is and enjoy life while they play their shake and bake on the newbies. gl